Apple Inc. $AAPL is Central Pacific Bank Trust Division’s 5th Largest Position

Central Pacific Bank Trust Division reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,048 shares of the iPhone maker’s stock after selling 2,790 shares during the quarter. Apple makes up 2.3% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 5th biggest holding. Central Pacific Bank Trust Division’s holdings in Apple were worth $18,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Apple by 14.3% during the third quarter. GAMMA Investing LLC now owns 317,506 shares of the iPhone maker’s stock worth $80,847,000 after purchasing an additional 39,743 shares in the last quarter. Trust Co of the South boosted its holdings in shares of Apple by 4.8% in the 3rd quarter. Trust Co of the South now owns 90,001 shares of the iPhone maker’s stock valued at $22,917,000 after buying an additional 4,094 shares in the last quarter. Helen Stephens Group LLC grew its position in shares of Apple by 1.0% in the 3rd quarter. Helen Stephens Group LLC now owns 11,905 shares of the iPhone maker’s stock valued at $3,031,000 after buying an additional 122 shares during the last quarter. McAlister Sweet & Associates Inc. raised its stake in Apple by 2.1% during the 3rd quarter. McAlister Sweet & Associates Inc. now owns 38,924 shares of the iPhone maker’s stock worth $9,911,000 after acquiring an additional 797 shares in the last quarter. Finally, American National Bank of Texas acquired a new stake in Apple during the 3rd quarter worth $1,888,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $271.84 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. The company has a market cap of $4.02 trillion, a PE ratio of 36.39, a P/E/G ratio of 2.57 and a beta of 1.10. The stock has a fifty day moving average price of $269.23 and a 200 day moving average price of $238.57. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $288.62.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 13.92%.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. Loop Capital restated a “buy” rating and issued a $325.00 price objective (up previously from $315.00) on shares of Apple in a research note on Tuesday, December 2nd. Wedbush set a $350.00 price target on Apple and gave the stock an “outperform” rating in a research note on Monday, December 8th. Bank of America lifted their price target on Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. DA Davidson increased their price objective on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Rosenblatt Securities raised their target price on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $283.92.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.